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   Gold/Mining/EnergyBarrick Gold (ABX)


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To: james flannigan who wrote (3537)5/3/2013 3:41:01 PM
From: BitterSalt
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Agreed, MAX would be nice if ABX could find $100 million to spend. South American politics is very unstable ie: Argentina and Chile. I am concerned it is not the environment that is Barrick's problem. All gold miners are under some form of "anti-capitalist-environmentalist complex" pressure. I am studying the possibility of a lateral move from ABX to AEM AGNICO EAGLE MINES LTD ( AEM ). AEM's interests are in Canada, Finland, and Mexico. Mexico is developing into a great economy. Possibly the "Canada of the south" from USA perspective.

Well anyway, lets see what the new ABX people do in Chile after Barrick cleaned house.

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From: BitterSalt5/15/2013 9:04:10 PM
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Added to ABX and SGGDX (401k) today. Stock market euphoria and gold panic have arrived. People are more comfortable buying stocks after a market has demonstrated upward momentum and euphoria sets in. They also like to jump out of diving planes as panic ensues. I am adding to gold and moving a major part of my portfolio to muni bonds. As I get older I can not tolerate a new generational low in equities. We have had a nice run since 2009. ABX is an equity but it is contrary. SGGDX is 20% physical gold. So, ABX is a long term holding. Gold is my lottery ticket and muni bonds will pay my bills.

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From: BitterSalt5/24/2013 4:00:03 PM
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It appears Chile is a more risky place to do business: I am not convinced, at all, that this is an environmental issue. ABX is not welcome in Chile any longer. Time to move out .. take the $8.5 billion loss and go to some where this great company is appreciated. Fire up the bulldozers and flatten the site! "Made in Chile" not for me any longer. Chile fines Barrick Gold $16.4 million for environmental violations at Pascua-Lama project .

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To: BitterSalt who wrote (3540)5/25/2013 8:21:24 AM
From: Bocor
   of 3558
 
Problems at the Pascua-Lama mine were already factored into Barrick Gold’s ( ABX -2%) share price, and the slide after today's construction halt should be considered short-term, Gold Newsletter's Brien Lundin says. The $16M fine imposed by Chile is "immaterial" when contrasted to the $8.5B currently allocated to the project, Cowen analysts say.

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To: Bocor who wrote (3541)5/27/2013 11:46:16 AM
From: BitterSalt
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I think you are right. I get a little too worked up over this issue. I escaped out of Argentina bank stock BMA at break even after the president hurt them with strict capital requirements and killed the dividend. And also got out of YPF (Repsol Spain) with slight gain when Argentina nationalized their Argentina holdings. Dangerous places to invest in. ABX is in both of the countries on the same project :) I know I am too cycnical and try to not let my emotional responses get in the way of investing.

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From: BitterSalt7/10/2013 1:43:51 PM
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What a mess. Sold at 20 and bought 1/3 back at 18. To scary to buy more. Really getting hammered. ABX just isn't responding as well as GG or AUY (for example ) to Gold spot price or industry news. I will hold.

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From: unrealistic_thoughts12/5/2014 9:07:38 PM
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Any thoughts on Barrick Gold, which is plying 20-year lows in the stock? It seems kind of extreme that the largest gold miner on earth would be experiencing 20-year lows, is this a buy-it-now signal?

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To: unrealistic_thoughts who wrote (3544)7/7/2015 2:17:42 AM
From: unrealistic_thoughts
   of 3558
 
Ok, I have a thought on Barrick Gold, and it's stored right here :

finance.yahoo.com
Operating Cash Flow (ttm):2.03B
Levered Free Cash Flow (ttm):17.73M

Barrick borrowed a TON of money, just like ALL of the companies founded by that Canadian guy, Peter Munk. If you look up Peter Munk you will notice that all of his companies were sold or mergered for pennies on the dollar because he tends to borrow money like crazy to make acquisitions but never really creates any value.

Anyway, the problem now is that Barrick has HUGE loans equal to 1.2x the value of the company, and even though they have $2.03B of operating cash flow every year, they need EVERY SINGLE PENNY to pay the interest on the way-too-many-loans that the company is carrying. If you look at the stats above, even though they have $2.03B in operating cash flow, all but $17M of it goes towards paying their loans.

They hired a whizkid CEO from the vampire-squid company, goldman sachs, and he took a close look at company finances and said, "I want $10M a year in salary to run this turkey" and the investors said "no". So they are faced with selling off assets to try to reduce debt. The only way they survive is if they can sell assets for more than they are worth. They either need to swindle the purchasers, or perhaps gold goes back to $1500 per oz and they survive. Every time they sell an asset the stock goes down because now you own a smaller company. It looks good because there is a bump in operating income but they immediately pay off their loan and all that operating income disappears in a poof of smoke! When the last asset is sold they will have $0 of operating cash flow and $0 of loan service, and the company will be worth $0, apparently.

So it seems like a very poor investment. Peter Munk ruined the company half a decade ago, like he did with all his other (e.g. Realty) companies. They will need a miracle to get out of their death spiral.

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To: Paul Senior who wrote (3527)12/15/2016 5:48:30 PM
From: Paul Senior
   of 3558
 
I'll try again. Maybe this time I can end in green. Just a few share tracking position now. I see management is selling alledged non-core assets, planning to be debt-free in a few years. That's a positive, I guess.

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From: Savant1/10/2017 10:14:00 AM
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MONTREAL, QUEBEC--(Marketwired - Jan 10, 2017) - Osisko Mining Inc. (TSX:OSK) ("Osisko") is pleased to announce that it has entered into a binding agreement with Barrick Gold Corporation (TSX:ABX) ("Barrick"), which sets forth the terms of an exploration earn-in (the "Exploration Earn-In") on the Kan Property ("Kan" or the "Property") located in northern Québec. Under the Exploration Earn-In, Barrick must commit $15 million in work expenditures over a four-year period to earn a 70% interest on Kan, subject to certain annual work expenditure thresholds, including a guaranteed expenditure threshold of $6 million in the first two years.

Following the completion of the Exploration Earn-In, the Property will be transferred to a new joint venture entity to be owned 30% by Osisko and 70% by Barrick. Osisko and Barrick will then enter into a joint venture agreement in respect of the Property. In addition, Barrick may earn a further 5% interest in the joint venture entity (for a total interest of 75%) by electing to fund an additional $5 million of project level expenditures (such as a preliminary economic assessment or pre-feasibility study).

Osisko and Barrick have agreed to negotiate in good faith to enter into a definitive agreement providing for the Exploration Earn-In, in accordance with the terms set forth in the binding agreement, subject to the satisfaction of certain conditions precedent, including any regulatory or Toronto Stock Exchange approvals.

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Mathieu Savard, P.Geo. Vice President Exploration Québec, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About the Kan Property

The Kan Property is located in the Nunavik Territory in northern Québec. The property is a large gold and base-metal exploration project covering a surface area of over 30,000 hectares in the Labrador Trough, 85 kilometres southwest of Kuujjuaq. A silicate-carbonate iron formation of regional extent represents a significant auriferous unit on the property sharing similarities with the world-class Homestake gold deposit. Historical work conducted in the 1990's led to the discovery of numerous gold showings within the iron formation, with drill results returning 5.1 g/t Au over 6 metres (Ferricrete Showing) and 9.46 g/t Au over 2 metres (Kan Showing). Work carried out by Rio Silver Inc. in 2011-2012 yielded 3.12 g/t Au over 13.9 metres in channels and 1.2 g/t Au over 10.4 metres in drilling on the Pump Pad Ridge showing. Exploration work performed in 2014-2016 by Virginia Mines (subsequently Osisko Exploration James Bay) led to the discovery of additional gold mineralization associated with the silicate-carbonate iron formation on the Kan property. Best results from this work include values of: 8.1 g/t Au over 7 metres (Pump Pad Ridge showing); 10.7 g/t Au over 5 metres (Winchester showing); and 8.6 g/t Au over 3.2 metres (KTR showing) obtained from channels; and values of 2.13 g/t Au over 8 metres and 4.62 g/t over 8 metres obtained from drilling (Winchester-Pump-Pad Ridge).

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall Lake gold deposit located between Val-d'Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québec's prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $90 million in cash and cash equivalents as well as investments of approximately $40 million.

Cautionary Note Regarding Forward-Looking Information

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